2013 Photographs: Jihye Choi, Youngchae Park+ 49 Share Projects ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/460903/hub-hyunjoon-yoo-architects Clipboard Architects: Hyunjoon Yoo Architects Area Area of this architecture project Area: 3200 m² Year Completion year of this architecture project CopySave this picture!© Youngchae ParkText description provided by the architects. HUB of Seoul is a place for the people who want to start their own business. City of Seoul supplies the space, human network, education and some financial consulting for them. Many young adults gather to this place for their future vision. The facility is free thanks to the municipal financial support.Save this picture!© Youngchae ParkAnybody who wants to start their own business can apply for getting some space at this center. Two groups; “Social Business Association” and “Jobs for Young Adults” supply the office space and free consulting for six months until they can launch their own business. The initiating person starts at the open office area with couple of members. Once they get more detailed business plan, the team moves to the individual cell office. Therefore the clients requested the space for the individual beginners, and sound insulated cell offices for matured groups. Besides, they wanted to have restaurant, library, seminar rooms, lecture halls, cafeteria, concert hall, gift shop, head offices etc.Save this picture!© Jihye ChoiCreate a CityBasically, we need to create a small town in the area of 3,200 sqm. We studied urban structure of Rome and New York. We liked plazas and river of Rome; and central park, grid and diagonal Broadway of New York. First step of design process was to layout the road network on the huge flat space. The network is composed of diagonal ‘Broadway’, plazas, and river. The HUB is a miniature of a city, while the sound insulated cell offices are the houses of this city.Save this picture!© Youngchae ParkMore Social, More Flexible The client stressed on the “flexibility of the space”. Because, they could not expect how many people and what kind of people will use this place. They also did not know how those people use this place. So, they wanted maximum flexible space. Our design solution was to create a house with decomposable walls; and decomposable table for multi-functions. The users can slide the walls and reassemble the table components for their needs. As a result, the space is ever-changing scape. Save this picture!© Youngchae ParkColors of the spaceWe thought that the architect can only guide the sketch of the space, the users will do coloring on the space with their activities. The completion of the space is done by the activities of the users. HUB shows this concept really well. After we finish the construction, we have visited once every month. We could speculate the coloring process of the space. It started from the rearrangement of the tables, and new furniture that tenant brought. All the small decorations on wall vitalize the atmosphere of the space of HUB. HUB will grow as the tenants come and go, it will evolve with the growth of the young people in this place. Save this picture!Floor PlanProject gallerySee allShow lessPhotographer Victor Enrich Reshapes an Existing Hotel, 88 TimesArchitecture NewsThe Ten Most Read Articles of 2013MiscProject locationAddress:5 Nokbeon-dong, Eunpyeong-gu, Seoul, South KoreaLocation to be used only as a reference. It could indicate city/country but not exact address. Share HUB / Hyunjoon Yoo ArchitectsSave this projectSaveHUB / Hyunjoon Yoo ArchitectsSave this picture!© Jihye ChoiSocial Housing•Seoul, South Korea Social Housing South Korea Photographs Year: ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/460903/hub-hyunjoon-yoo-architects Clipboard “COPY” HUB / Hyunjoon Yoo Architects “COPY” ArchDaily CopyAbout this officeHyunjoon Yoo ArchitectsOfficeFollowProductsWoodSteelConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureSocial HousingSeoulInteriorsOfficesWoodSouth KoreaPublished on December 31, 2013Cite: “HUB / Hyunjoon Yoo Architects” 31 Dec 2013. ArchDaily. Accessed 11 Jun 2021.
“COPY” Houses Year: Projects ArchDaily Save this picture!© Albert Lim+ 17 Share Area: 3700 ft² Area: 3700 ft² Year Completion year of this architecture project 2012 “COPY” Jalan Mat Jambol / Zarch Collaboratives photographs: Albert LimPhotographs: Albert LimSite Area:1700 sq ftText Write Up:Jolene LeeProject Team:Randy ChanCountry:SingaporeMore SpecsLess SpecsSave this picture!© Albert LimText description provided by the architects. Approaching the house from the street level, one notices a raw, chamfered concrete fascia. The windowless façade reveals the interior of the house, almost as if the house is still in a state of construction, primitive in its language of expression. The raw elevation provides glimpses of a spiral staircase drum, with a seemingly makeshift timber box protruding from the articulated structural elements, augmenting the sense of theatrics in a neighbourhood of quiet terrace houses.Save this picture!Floor Plan The open design of the house boldly experiments with the notions of tropical dwelling, where sustainability is interpreted through the harnessing of natural elements through passive means. Located near the sea, the openness of the façade allows for cross-ventilation, where a continuous breeze can be enjoyed through the house at all times of the day, reducing the reliance on mechanical cooling systems and harkening back to principles of vernacular tropical dwellings.Save this picture!© Albert Lim This open façade is made possible through a key element in the design – an overall overhang with a 2m recess providing shelter and security, where the recess allows for a greater sense of privacy for the interior spaces of the house and at the same time, shielding the main spaces of the house from the intensity of the tropical sun and rain.Save this picture!ElevationIt also functions as a defined patio space on the second storey overlooking the expanse of green in front of the house.Save this picture!© Albert Lim Hidden within is a 12m bio pool located on the second storey which stretches through the entire length of the house along the shared parti wall. A key space in the house, this bio pool anchors the main communal space, extending into the kitchen and dining area. Together with the cross ventilation allowed by the non-façade treatment, it acts to cool the house based on simple age-old principles of tropical living. The edge of the bio pool is open to the sky and with no mechanical system installed, it is sustained entirely through an understanding of simple ecological and biological systems, a constant experiment that remains fluid, an echo of the defining ethos of the house.Save this picture!© Albert Lim This conceptual thread of a return to the basics is continued in the use of materials, where natural recycled materials accent particular elements in the house. For instance, the use of recycled timber is evident in the staircase and the doors, lending a natural patina that coupled with the detailing, reflects the primordial nature of the tropical dwelling unit.Save this picture!Floor Plan The arrangement of the domestic spaces are subverted, with the ground floor anchored by a gallery space and the use of split levels linked with a central open vertical circulation core of lightly articulated staircases and ramps. This opens up the spaces while providing endless opportunities for an interesting dialogue between the programmatic spaces.Save this picture!© Albert Lim The openness in both plan and design articulation brings forth the intention to modulate between the interior and exterior, where the diurnal extremities of the tropical outdoors and what makes a comfortable dwelling space is deftly moderated with respect for both basic ecological principles and sustainable tropical living methods. The house in its openness embraces the heat and humidity of the tropics, celebrating the climatic eccentricities in multiple layers while at the same time carefully keeping in balance with the requirements that come with its function as a domestic space in the city, drawing out delight in the choreography of the spaces within.Project gallerySee allShow lessGarcias House / Warm ArchitectsSelected ProjectsStealth Cabin / Superkül incSelected Projects Share Singapore CopyHouses•Singapore Photographs Jalan Mat Jambol / Zarch CollaborativesSave this projectSaveJalan Mat Jambol / Zarch Collaboratives ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/503024/jalan-mat-jambol-zarch-colloboratives Clipboard Architects: Zarch Collaboratives Area Area of this architecture project Year: 2012 CopyAbout this officeZarch CollaborativesOfficeFollowProductSteel#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesHousesSingaporePublished on May 10, 2014Cite: “Jalan Mat Jambol / Zarch Collaboratives” 10 May 2014. ArchDaily. Accessed 11 Jun 2021.
Billy Lee names strong Limerick side to take on Wicklow in crucial Division 3 clash Email DESPITE Limerick City and County Council spending €3.75 million on homeless services this year, the local housing crisis continues to worsen.That’s the view of Sinn Fein TD Maurice Quinlivan who told the Limerick Post that 95 per cent of those calling to his party’s office in Denmark Street are affected by the housing crisis. He said that many of them are at breaking point from the stress of trying to provide housing for their families.Families are struggling to meet mortgage payments, to find social housing, or are in receipt of the Housing Assistance Payment (HAP) and cannot find rented accommodation.According to Deputy Quinlivan, there has been little signs of the housing crisis being quelled over the last 12 months, with 38 homeless families reportedly in hotel accommodation in Limerick City last Friday.Sign up for the weekly Limerick Post newsletter Sign Up And he predicted that this figure could rise to 50 in the coming days, at an estimated cost to the State per week of €50,000.“We had one man in here recently who is sleeping in his car. Teachers tell us that kids are coming to school without lunches because they are sleeping in hotel room without cooking facilities or fridges. It is worse it is getting,” he insists.Deputy Quinlivan maintains the government simply isn’t doing enough to tackle the causes of the housing and homeless crisis in Limerick.“We need real rent certainty and greater protection for tenants. We need 10,000 social houses every year across the state until this crisis ends. We need action on the many vacant properties across Limerick.“We need to see the price of houses to be brought down, greater action from NAMA to provide social and affordable houses and a moratorium on home repossessions to give a break to those struggling to keep their homes. The government urgently needs to take these key actions in to tackle what is becoming the most urgent housing crisis Limerick has ever seen.”Limerick City and County Council told the Limerick Post this week that Limerick Homeless Action Team is working with the various approved housing bodies, NGOs and State agencies to deal with the issue of those in emergency accommodation.“As of the end of April 2017 there were 34 families availing of emergency accommodation. It would in inappropriate to comment on individual costings as they are commercially sensitive, however Limerick City and County Council is spending in the region of €3.75 million this year on Homeless Services,” a spokesman commented.by Alan [email protected] Linkedin TAGSAlan Jacqueshomelesshomelessnesshousing crisislimerickLimerick City and County CouncilLimerick Homeless Action TeamMaurice Quinlivan TDSinn Fein WhatsApp RELATED ARTICLESMORE FROM AUTHOR Limerick’s National Camogie League double header to be streamed live Advertisement Predictions on the future of learning discussed at Limerick Lifelong Learning Festival Previous articleSinn Féin vow to fight Irish Cement’s ‘toxic’ waste plansNext articleParking is at the heart of Croom’s development problems Alan Jacqueshttp://www.limerickpost.ie Facebook NewsLocal NewsHousing crisis worsens in Limerick despite €3.75m spendBy Alan Jacques – May 27, 2017 1728 Print Twitter Limerick Artist ‘Willzee’ releases new Music Video – “A Dream of Peace” WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads Limerick Ladies National Football League opener to be streamed live
Pastoral Unit 1St John’sMonaleenSt Patrick’s/St Brigid’sSt Michael’sOLHOC MilfordSalesians – associate parish WhatsApp Email Pastoral Unit 8Rockhill /BrureeCastletown /Ballyagran /Colmanswell Advertisement Pastoral Unit 7BanogueCroomDromin/AthlaccaManisterFedamoreBruff/Meanus/Grange Linkedin Previous articleWebsite uncovers Newcastle West’s hidden gemsNext articleLimrockers impress at Other Voices Staff Reporterhttp://www.limerickpost.ie Pastoral Unit 3Donoughmore / Knockea / RoxboroOur Lady Queen of PeaceHoly Family TAGSCommunityLimerick City and CountyNewsreligion Pastoral Unit 13Shanagolden/Robertstown/FoynesLoughill/BallyhahillGlinCoolcappa/KilcolmanPastoral Unit 2St Joseph’sSt Saviour’sOur Lady of Lourdes Housing 37 Compulsory Purchase Orders issued as council takes action on derelict sites Pastoral Unit 15Newcastle WestMahoonagh/Feohanagh/CastlemahonMonageaArdagh/Carrickerry Pastoral Unit 10RathkealeBallingarry/GranaghKnockaderry/Cloncagh Pastoral Unit 14AbbeyfealeAtheaTempleglantineTournafulla/Mountcollins Facebook Pastoral Unit 9ArdpatrickGlenroe/BallyorganKilfinaneBulgaden/MartinstownEffin/GarrienderkKilmallock Pastoral Unit 12Kildimo/PallaskenryKilcornanAskeaton/Ballysteen Pastoral Unit 4St Munchin’s/St Lelia’sCorpus ChristiParteen/MeelickSt MarysSt Nicholas Bishop Brendan LeahyA STRATEGY to deal with the decline in the number of priests and the need to promote greater lay involvement in the Catholic Church is set to emerge from the new ‘team ministry’ launched by the Diocese of Limerick last weekend.In a pastoral letter read out at all parishes across the diocese, Bishop Brendan Leahy said that the move, signalled in the 2016 Limerick Diocesan Synod, will see existing parishes arranged into pastoral units.Sign up for the weekly Limerick Post newsletter Sign Up Teams of clergy will minister in each unit but existing parish identity will be preserved.The new units will involve a number of parishes operating together, with two or three priests ministering together as a team to the pastoral needs of these parishes. Each of the priests will be a “co-Parish Priest” and will move around the pastoral unit, with different priests saying Masses in parishes week on week.The team ministry unit may also see one baptismal team for the whole unit offering preparation for parents bringing their child for baptism with the baptisms then taking place in the local parish church.There will be one pastoral council for each pastoral unit made up of members of each of the parishes of the unit. Each parish then will have its own smaller working group.In his pastoral letter, Bishop Leahy stated: “The main goal in establishing pastoral units and team ministry is greater co-operation between parishes. The hope is that there will be a greater critical mass of energy, competencies and lay volunteers at the service of a number of parishes.He said that the establishment of the Team Ministry Units was necessitated by the considerable decline in the number of priests, the increasing age profile of priests and increasing demands, bureaucratic and otherwise, on priests today. Twitter NewsCommunityPastoral units to compensate for fewer priestsBy Staff Reporter – December 5, 2018 929 Pastoral Unit 5Christ the KingCratloe/SixmilebridgeOur Lady of the Rosary Pastoral Unit 6Patrickswell/BallybrownMungret/Raheen/Crecora Print Pastoral Unit 16Dromcollogher/BroadfordKelleedy/AshfordFeenagh/Kilmeedy RELATED ARTICLESMORE FROM AUTHOR Pastoral Unit 11Croagh/KilfinnyAdareCappagh Limerick on Covid watch list TechPost | Episode 9 | Pay with Google, WAZE – the new Google Maps? and Speak don’t Type! Shannon Airport braced for a devastating blow Local backlash over Aer Lingus threat Is Aer Lingus taking flight from Shannon?
Twitter Facebook Twitter Pinterest Pinterest Local NewsBusiness New Poll Shows Overwhelming Support for Utility-Scale Solar in Ohio TAGS WhatsApp By Digital AIM Web Support – February 3, 2021 COLUMBUS, Ohio–(BUSINESS WIRE)–Feb 3, 2021– Today, the Utility Scale Solar Energy Coalition (USSEC) announced new Ohio polling data that shows an overwhelming majority of Ohio voters support renewable energy, support solar development and welcome it in their community. USSEC is a member-based trade organization representing utility-scale solar developers, manufacturers, and industry leaders throughout the state of Ohio. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210203005764/en/ “We knew Ohioans overwhelmingly supported renewable energy. This poll further shows that not only do Ohioans support solar, but that they welcome it in their communities,” saidJason Rafeld, Executive Director of USSEC. “Solar, which Ohioans see as a crucial part of our state’s energy future, will continue to bring economic prosperity to communities across our state.” The poll also shows that Ohioans stand firmly behind their local farmers, who are leasing out their private land for solar development in order to support their income with reliable revenue. The vast majority (84%) of voters believe property owners have the right to do what they want with their land, even if that means moving away from traditional uses of farmland. “Farming is changing dramatically, as agricultural expenses increase and revenues decrease. We make changes a prior generation only dreamed of. My family, and a number of neighboring farmers, believe harvesting solar energy is a way to preserve our farms for the future,” said Jane Sweet, a landowner in the Kingwood Solar Project and fourth generation farmer in Greene County. “All across the nation, including Ohio, chambers of commerce are seeing clean energy companies joining their membership and making serious contributions to the local revenues and economic activity in their communities, dollars that school systems and local governments otherwise would not receive,” said Susan Munroe, Director of Economic Development, Chambers of Innovation and Clean Energy. “The findings throughout this survey of community support for solar are a direct result of the meaningful economic benefits that utility-scale solar companies are bringing to Ohio. Utility-scale solar companies are putting Ohioans to work, investing in our rural communities, and supplying power that our businesses demand.” Key Findings of Likely Ohio Voters:76% welcome solar farm development in their community.71% believe schools are in need of additional funding.84% believe property owners have the right to do what they want with their land, even if that means moving away from traditional uses of farmland.65% believe Ohio should be working to attract major businesses to the area, like Google, Facebook, and Amazon Web Services.67% believe it is important to bring new sources of clean energy to the state.64% believe elected officials should do more to protect individual property rights. See attached report for more information on the poll. Purple Strategies, a bipartisan public affairs firm, conducted an online survey of 750 Likely Voters in Ohio between December 24, 2020 and January 1, 2021. Sample and data collection were provided by Dynata. Respondents self-reported as registered voters in Ohio and indicated they are very likely/almost certain to vote in the US midterm election in 2022. The margin of error for the total sample is +/-3.4% at the 95% confidence level. View source version on businesswire.com:https://www.businesswire.com/news/home/20210203005764/en/ Jason Rafeld,[email protected], (614) 582-3101 KEYWORD: OHIO UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: ALTERNATIVE ENERGY ENERGY STATE/LOCAL PUBLIC POLICY PUBLIC POLICY/GOVERNMENT SOURCE: Utility Scale Solar Energy Coalition Copyright Business Wire 2021. PUB: 02/03/2021 12:24 PM/DISC: 02/03/2021 12:24 PM http://www.businesswire.com/news/home/20210203005764/en Facebook Previous articleUnited States Scleroderma Market and Competitive Landscape Report 2021: Epidemiology, Key Products Marketed, Market Valuations and Forecast, Drugs Sales and Market Shares – ResearchAndMarkets.comNext articleZane Burke Joins Bardavon Health Innovations’ Board of Directors Digital AIM Web Support WhatsApp
Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Headlines, News Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago August 23, 2017 1,669 Views Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] The Best Markets For Residential Property Investors 2 days ago Related Articles Home / Daily Dose / Five Star CEO to be Featured Presenter at the National Property Preservation Conference Servicers Navigate the Post-Pandemic World 2 days ago Ed Delgado, President and CEO of the Five Star Institute, was announced as one of the featured presenters at the upcoming National Property Preservation Conference (NPPC), which will take place in Baltimore, Maryland from November 7-9. This year’s event will mark the 13th year of the conference.“I am honored and humbled to have the opportunity to once again address the audience at the National Property Preservation Conference,” said Delgado. “This forum has been vital to the progress we’ve made across the industry, and it is important that we continue to work together to continue that momentum.”The NPPC was originally conceived in 2003 when it was noticed that there was a concerning lack of industry conversation regarding the subject of property preservation. Each year, the NPPC strives to bring together servicers, investors, and leaders in the mortgage industry to discuss pressing issues in the industry and develop solutions through communication and teamwork.“For the past 12 years, the National Property Preservation Conference has been the preeminent forum that brings leaders from HUD, the GSEs, mortgage servicing, and field services companies together to focus on solutions for property preservation issues,” said Alan Jaffa, CEO of Safeguard Properties, the host sponsor of the conference. “Ed’s participation as moderator of a key conference session and his industry expertise have been paramount to the ongoing success of the event.”Delgado has been honored as a moderator and presenter at the NPPC in the past. This year, he plans on addressing the looming question as to whether or not the mortgage finance industry is on the verge of another housing bubble based on where the current market is heading.“There are many similarities between the previous housing bubble and our current economic situation,” said Delgado. “As an industry, we have to be cautious as to not make the same mistakes as we have in the past, and I hope to highlight some key warning signs for my colleagues.”To register, or find out more information about the NPPC, click here. Tagged with: NPPC Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Joey Pizzolato Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Five Star CEO to be Featured Presenter at the National Property Preservation Conference NPPC 2017-08-23 Joey Pizzolato Previous: Making Amends Next: Alexa, Get me a Mortgage Demand Propels Home Prices Upward 2 days ago Subscribe
Top StoriesRefusal To Condone Delay For Appeal Under Section 34 Of Arbitration Act Appealable Under Section 37 : Supreme Court Manu Sebastian11 Feb 2021 7:06 AMShare This – xIn a significant verdict, the Supreme Court has held that an order refusing to condone the delay in filing an appeal under Section 34 of the Arbitration and Conciliation Act 1996 is appealable under Section 37 of the Act.”..the question of law is answered by stating that an appeal under section 37(1)(c)of the Arbitration Act, 1996 would be maintainable against an order refusing to condone…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginIn a significant verdict, the Supreme Court has held that an order refusing to condone the delay in filing an appeal under Section 34 of the Arbitration and Conciliation Act 1996 is appealable under Section 37 of the Act.”..the question of law is answered by stating that an appeal under section 37(1)(c)of the Arbitration Act, 1996 would be maintainable against an order refusing to condone delay in filing an application under section 34 of the Arbitration Act, 1996 to set aside an award”, observed a bench comprising Justices RF Nariman, Navin Sinha and KM Joseph.This important pronouncement settling a widespread confusion came in the case Chintels India Ltd v Bhayana Builders Pvt Ltd, which was an appeal arising out of a Delhi High Court judgment which held that such an appeal was not maintainable.Considering the importance of the question of law, the High Court had granted certificate for appeal to Supreme Court under Articles 133 and 134A of the Constitution of India.The Supreme Court observed that it is important to note that the expression “setting aside or refusing to set aside an arbitral award “does not stand by itself. The expression has to be read with the expression that follows-“under section 34″. Section 34 is not limited to grounds being made out under section 34(2).”Obviously, therefore, a literal reading of the provision would show that a refusal to set aside an arbitral award as delay has not been condoned under sub-section (3) of section 34 would certainly fall within section 37(1)(c)”, the SC observed.The SC further said that this reasoning is strengthened by the fact that under section 37(2)(a), an appeal lies when a plea referred to in sub-section (2) or (3)of section 16 is accepted. This would show that the Legislature,when it wished to refer to part of a section, as opposed to the entire section,did so. Contrasted with the language of section 37(1)(c),where the expression “under section 34″refers to the entire section and not to section 34(2) only, the fact that an arbitral award can be refused to beset aside for refusal to condone delay under section 34(3) gets further strengthened, added the Court.The Court rejected the argument that since Arbitration Act allows for minimal judicial intervention, appeals against orders refusing to condone delay should not be entertained.The Court said that when the language of the provision allows for such appeals to be filed, the court cannot limit its scope.”Undoubtedly, a limited right of appeal is given under section 37 of the ArbitrationAct, 1996. But it is not the province or duty of this Court to further limit such right by excluding appeals which are in fact provided for,given the language of the provision as interpreted by us hereinabove”, the judgment authored by Justice RF Nariman held.The Court distinguished the judgments in BGS SGS Soma JV. v. NHPC Limited and State of Maharashtra and Anr. v. M/s Ramdas Construction Co. and Anr(2017).Allowing the appeal, the Supreme Court set aside the impugned judgment of the Division Bench ,and the matter was remitted to a Division Bench of the High Court of Delhi to decide whether the Single Judge’s refusal to condone delay is or is not correct.Case Details Title : Chintels India Ltd v Bhayana Builders Pvt LtdBench : Justices RF Nariman, Navin Sinha and KM Joseph.Appearances : Advocate Rajshekhar Rao appeared for the appellant. Senior Advocate Mukul Rohatgi appeared for the respondent.Citation : LL 2021 SC 77Click here to read/download the judgmentSubscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Story
Top StoriesAdjudicating Authority Cannot Substitute Any Commercial Term Of Resolution Plan Approved By Committee Of Creditors: Supreme Court LIVELAW NEWS NETWORK24 March 2021 1:46 AMShare This – xThe Supreme Court observed that adjudicating authority cannot substitute any commercial term of the resolution plan approved by Committee of Creditors. If, within its limited jurisdiction, the Adjudicating Authority finds any shortcoming in the resolution plan vis-à-vis the specified parameters, it would only send the resolution plan back to the Committee of Creditors, for…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Supreme Court observed that adjudicating authority cannot substitute any commercial term of the resolution plan approved by Committee of Creditors. If, within its limited jurisdiction, the Adjudicating Authority finds any shortcoming in the resolution plan vis-à-vis the specified parameters, it would only send the resolution plan back to the Committee of Creditors, for re-submission, the bench comprising Justices AM Khanwilkar, Dinesh Maheshwari and Sanjiv Khanna said.The court observed thus while disposing a batch of cases relating to the resolution plan in the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, concerning the corporate debtor, Jaypee Infratech Limited. The Adjudicating Authority (NCLT), in this case, had approved the resolution plan with some modifications.One of the issues considered by the Apex Court was about the extent of, and limitations over, the powers and jurisdiction of the Adjudicating Authority while dealing with the resolution plan approved by the Committee of Creditor? Regarding this, the bench referred to various precedents [ K. Sashidhar v. Indian Overseas Bank and Ors.: (2019) 12 SCC 150 ; Committee of Creditors of Essar Steel India Limited v. Satish Kumar Gupta and Ors.: (2020) 8 SCC 531 and Maharashtra Seamless Limited v. Padmanabhan Venkatesh : (2020) 11 SCC 467] and said:To put in a nutshell, the Adjudicating Authority has limited jurisdiction in the matter of approval of a resolution plan, which is well-defined and circumscribed by Sections 30(2) and 31 of the Code read with the parameters delineated by this Court in the decisions above referred. The jurisdiction of the Appellate Authority is also circumscribed by the limited grounds of appeal provided in Section 61 of the Code. In the adjudicatory process concerning a resolution plan under IBC, there is no scope for interference with the commercial aspects of the decision of the CoC; and there is no scope for substituting any commercial term of the resolution plan approved by the CoC. Within its limited jurisdiction, if the Adjudicating Authority or the Appellate Authority, as the case may be, would find any shortcoming in the resolution plan vis-à-vis the specified parameters, it would only send the resolution plan back to the Committee of Creditors, for re-submission after satisfying the parameters delineated by Code and exposited by this Court.Regarding the other issues, the bench concluded thus:The process of simultaneous voting over two plans for electing one of them cannot be faulted in the present case; and approval of the resolution plan of NBCC is not vitiated because of simultaneous consideration and voting over two resolution plans by the Committee of Creditors. The stipulations in the resolution plan, as regards dealings with YEIDA and with the terms of Concession Agreement, have rightly not been approved by the Adjudicating Authority but, for the stipulations which have not been approved, the only correct course for the Adjudicating Authority was to send the plan back to the Committee of Creditors for reconsideration. The Adjudicating Authority has not erred in disapproving the proposed treatment of dissenting financial creditor like ICICI Bank Limited in the resolution plan; but has erred in modifying the related terms of the resolution plan and in not sending the matter back to the Committee of Creditors for reconsideration. The Adjudicating Authority has erred in issuing directions to the resolution applicant to make provision to clear the dues of unclaimed fixed deposit holders. Paragraph 125 of the impugned order dated 03.03.2020 is set aside.The issues related with the objections of YES Bank Limited and pertaining to JHL, the subsidiary of the corporate debtor JIL, are left 361 for resolution by the parties concerned, who will work out a viable solution in terms of paragraphs 141 and 142 of this judgment. In the overall scheme of the resolution plan, the stipulation in Clause 21 of Schedule 3 thereof cannot be said to be unfair; and the observations in paragraphs 132 and 133 of the order dated 03.03.2020 justly take care of the right of any aggrieved party (agreement holder) to seek remedy in accordance with law and ensures viability of the resolution plan. It cannot be said that the resolution plan does not adequately deal with the interests of minority shareholders. The grievances as suggested by the minority shareholders cannot be recognised as legal grievances. Their objections stand rejected. The homebuyers as a class having assented to the resolution plan of NBCC, any individual homebuyer or any association of homebuyers cannot maintain a challenge to the resolution plan and cannot be treated as a dissenting financial creditor or an aggrieved person; the question of violation of the provisions of the RERA does not arise; the resolution plan in question is not violative of the mandatory requirements of the CIRP Regulations; and when the resolution plan comprehensively deals with all the assets and liabilities of the corporate debtor, no housing project of the corporate debtor could be segregated merely for the reason that same has been completed or is nearing completion. 362 (i) The amount of INR 750 crores (which was deposited by JAL pursuant to the orders passed by this Court in the case of Chitra Sharma) and accrued interest thereupon, is the property of JAL and stipulation in the resolution plan concerning its usage by JIL or the resolution applicant cannot be approved. The part of the order of NCLT placing this amount in the asset pool of JIL is set aside. (ii) The question as to whether any amount is receivable by JIL and/or its homebuyers from JAL, against advance towards construction and with reference to the admitted liability to the tune of INR 195 crores as on 31.03.2020, shall be determined by NCLT after reconciliation of accounts in terms of the directions contained in paragraphs 189 to 191.1 of this judgment. The amount, if found receivable by JIL, be made over to JIL and the remaining amount together with accrued interest be refunded to JAL in an appropriate account. It is made clear that the present matter being related to CIRP of JIL, no other orders are passed in relation to the amount that would be refunded to JAL because treatment of the said amount in the asset pool of JAL shall remain subject to such orders as may be passed by the competent authority dealing with the affairs of JAL.(i) Clause 23 of Schedule 3 of the resolution plan, providing for extinguishment of security interest of the lenders of JAL could not have been approved by the Adjudicating Authority, particularly in 363 relation to the security interest that has not been discharged. This part of the order dated 03.03.2020 is set aside. (ii) Adequate provision is required to be made in the resolution plan as regards utilisation of the land bank of 758 acres, that has become available to JIL free from encumbrance, in terms of the judgment dated 26.02.2020 of this Court in the case of Anuj Jain (supra). (i) The impugned order dated 03.03.2020 shall be read as modified in relation to Clause 7 of Schedule 3 of the resolution plan; and the said clause shall stand approved. (ii) As regards possession/control over the project sites/lands of JIL, it is left open for the resolution applicant to take recourse to the appropriate proceedings in accordance with law, whenever occasion so arise. The Appellate Authority was not justified in providing for an Interim Monitoring Committee for implementation of the resolution plan in question during the pendency of appeals. The impugned order dated 22.04.2020 passed by NCLAT is set aside.Invoking Article 142 of the Constitution, the bench issued the following directions while disposing the appeals:225.1. The matter regarding approval of the resolution plan stands remitted to the Committee of Creditors of JIL and the time for completion of the process relating to CIRP of JIL is extended by another period of 45 days from the date of this judgment. 225.2. We direct the IRP to complete the CIRP within the extended time of 45 days from today. For this purpose, it will be open to the IRP to invite modified/fresh resolution plans only from Suraksha Realty and NBCC respectively, giving them time to submit the same within 2 weeks from the date of this judgment. 225.3. It is made clear that the IRP shall not entertain any expression of interest by any other person nor shall be required to issue any new information memorandum. The said resolution applicants shall be expected to proceed on the basis of the information memorandum already issued by IRP and shall also take into account the facts noticed and findings recorded in this judgment. 225.4. After receiving the resolution plans as aforementioned, the IRP shall take all further steps in the manner that the processes of voting by the Committee of Creditors and his submission of report to the Adjudicating Authority (NCLT) are accomplished in all respects within the extended period of 45 days from the date of this judgment. The Adjudicating Authority shall take final decision in terms of Section 31 of the Code expeditiously upon submission of report by the IRP. 225.5. These directions, particularly for enlargement of time to complete the process of CIRP, are being issued in exceptional circumstances of the present case and shall not be treated as a precedent. 225.6. As noticed in paragraphs 4.5 and 38.3 hereinabove, the proceedings relating to CIRP of JIL were initiated by the Allahabad Bench of National Company Law Tribunal but, later on, the same were transferred to its Principal Bench at New Delhi. Therefore, the proceedings contemplated by this judgment shall be taken up by the Principal Bench of the National Company Law Tribunal at New Delhi.Case: Jaypee Kensington Boulevard Apartments Welfare Association vs. NBCC (India) Ltd.Coram: Justices AM Khanwilkar, Dinesh Maheshwari and Sanjiv KhannaCitation: LL 2021 SC 178Click here to Read/Download JudgmentSubscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Story